SoftBank is selling its entire Flipkart stake to Walmart

SoftBank is selling its entire Flipkart stake to Walmart

SoftBank Group said on Wednesday it is selling its roughly 20 percent stake in Indian e-commerce firm Flipkart to Walmart. Walmart said earlier this month it will pay $16 billion for a roughly 77 percent stake in Flipkart, the U.S. retailer’s largest-ever deal. SoftBank did not disclose terms of the sale but this month CEO Masayoshi Son said its investment in the Indian firm was worth around $4 billion. The Vision Fund invested 2.5billion in…

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Walmart’s $16 billion deal for Flipkart a sign US companies are looking to India for deals

Walmart’s $16 billion deal for Flipkart a sign US companies are looking to India for deals

Walmart CEO Doug McMillon (R) speaking next to Flipkart co-founder and CEO Binny Bansal at an event in Bangalore, as a deal was announced for Walmart to buy a stake in Flipkart. – US retail behemoth Walmart will buy a 77 percent stake in Indian e-commerce giant Flipkart for $16 billion, Walmart said in a statement May 9. With U.S.-China relations in a fragile state, American companies are taking a closer look at India for…

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